* "The main factor contributing to the strong development is the
positive sentiment in the iron ore price," said Jo Ringheim,
equity research analyst at Arctic Securities.

* Average daily earnings for capesizes, which typically transport
170,000-180,000 tonne cargoes such as iron ore and coal, rose
$1,757 to $22,272.

* Demand for high-quality iron from China, falling iron ore
inventories, increasing iron ore spot activity in Brazil, high
Australian exports are some of the factors supportive of the
market sentiment, Ringheim added.

* The supramax index rose 16 points to 783.

* The panamax index inched lower by 8 points to 1,111.

* Average daily earnings for panamaxes, which usually carry coal
or grain cargoes of about 60,000 tonnes to 70,000 tonnes, edged
$65 lower to $8,923.